The King never bunked here. But he could have banked here. The new MADISON HOTEL occupies downtown Memphis’ 1905 Tennessee Trust Building. Its fate tells a new economy story: The former vault is now a fitness center with lap pool, and the ornate two-story lobby adjoins the bustling bar and grill. Not that it has abandoned business altogether, thanks to high-speed Internet access, several meeting rooms, and round-the-clock room service. After hours, wind down at Beale Street music clubs, a short stroll away. Rooms from $190. (866) 446-3674, www.madisonhotelmemphis.com —